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North American Free Trade Agreement

noun
  1. an international trade agreement between the United States, Canada, and MexicoAbbreviation: NAFTA
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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

north american free trade agreement in Culture

North American Free Trade Agreement

An agreement between the United States, Canada, and Mexico to establish free trade. It took effect in 1994 and is designed to eliminate trade barriers between the three nations by 2009.

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Note

Many American labor unions oppose NAFTA on the grounds that it takes away jobs from American workers as manufacturers relocate in Mexico to take advantage of cheaper labor. Others argue that free trade creates more jobs in the United States than it destroys.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.